Paulson Broker Barred For Failure To Respond To FINRA
Minish Joe Hede of New York New York is a stockbroker formerly registered with Paulson Investment Company LLC who has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by allegations that he failed to provide a response to FINRA’s request for information pertaining to Hede’s activities. FINRA Case No. 2016052540601 (Feb. 13, 2018).
Apparently, FINRA suspended Hede on February 13, 2018 and informed him that he would be automatically barred if he did not request that his suspension be lifted by February 12, 2018. Evidently, Hede failed to respond to the regulator by the deadline which resulted in his automatic bar.
Hede was fired by Paulson Investment Company, LLC on April 28, 2017 founded on accusations that he was subject of customer disputes pertaining to allegations of fraud and failed to comply with the company’s investigation into his activities.
FINRA Public Disclosure reveals that Hede has been identified in five customer initiated investment related disputes containing accusations of his improper conduct during the period that he was employed with JW Genesis Securities, Inc., Josephthal & Co., Inc. and Paulson Investment Company, LLC. In particular, on December 22, 2016, a customer filed an investment related written complaint regarding Hede’s activities where the customer sought $1,000,000.00 in damages based upon allegations of selling away, omissions & misrepresentations, and fraud in reference to the customer’s promissory note arrangement. Hede has been associated with ten different broker dealers, seven of which have been expelled by securities regulators for violation of federal securities laws or is otherwise defunct. #cockroach
Thereafter, a customer filed an investment related arbitration claim involving Hede’s conduct in which the customer requested $1,000,000.00 in damages supported by accusations that misrepresentations had been made to the customer and the customer was defrauded in reference to a promissory note investment. FINRA Arbitration No. 17-00876 (Apr. 13, 2017).
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